ING Groep NV Invests $1.10 Million in Match Group Inc. $MTCH

ING Groep NV acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the third quarter, Holdings Channel reports. The firm acquired 31,207 shares of the technology company’s stock, valued at approximately $1,102,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after purchasing an additional 162,330 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Match Group by 7.8% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company’s stock valued at $180,798,000 after buying an additional 424,232 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Match Group by 7.1% in the second quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company’s stock valued at $163,322,000 after buying an additional 349,963 shares during the period. Norges Bank bought a new position in Match Group during the second quarter valued at about $134,429,000. Finally, Jupiter Asset Management Ltd. boosted its stake in Match Group by 15,523.3% during the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after buying an additional 3,465,877 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff bought 14,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, with a total value of $445,760.00. Following the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.64% of the company’s stock.

Match Group Price Performance

Shares of MTCH opened at $30.50 on Friday. The company has a 50-day moving average of $32.01 and a two-hundred day moving average of $33.84. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.57 and a beta of 1.32. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20.

Match Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio (DPR) is 31.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MTCH shares. Morgan Stanley set a $35.00 price target on shares of Match Group in a report on Wednesday, February 4th. Evercore dropped their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Match Group in a research note on Wednesday, December 10th. TD Cowen decreased their price target on shares of Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company dropped their price target on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group has a consensus rating of “Hold” and a consensus target price of $35.86.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.